3rd Oct 2014 07:41
LONDON (Alliance News) - Allied Minds Friday said its joint venture with Bristol-Myers Squibb Co has appointed Satish Jindal to lead the venture's efforts to identify and foster the development of biopharmaceutical innovations from top US university research institutions.
Jindal was formerly the vice-president of research and development at Bristol-Myers and was part of the team that created the joint venture company, Allied-Bristol Life Sciences.
Allied Minds and Bristol-Myers established Allied-Bristol Life Sciences to work with university researchers to identify discoveries that have therapeutic and commercial potential, and to support the research and development needed to take these early-stage opportunities from initial feasibility to pre-clinical candidacy.
"Under Jindal's leadership, Allied-Bristol Life Sciences will have access to the scientific expertise from Bristol-Myers and its Biocon Bristol-Myers Squibb Research & Development Centre," said Allied Minds in a statement.
"Satish Jindal has a strong track record of successfully starting and building biotechnology companies based upon scientific discoveries which can lead to new medicines for the future," said Allied Minds Chief Executive Chris Silva.
"We have a unique opportunity to create novel medicines in partnership with Bristol-Myers Squibb. Through this innovator model of Allied-Bristol Life Sciences, we can fill a critical gap that exists in translating highly important scientific discoveries from leading academic research institutions," said Jindal.
Allied Minds shares were up 1.1% to 274.00 pence per share Friday morning.
By Joshua Warner; [email protected]; @JoshAlliance
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